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Messages - Tribalchief

Pages: 1 2 [3] 4 5 ... 38
31
Basic Questions about Cryptos / Re: BENEFITS OF CRYPTOCURRENCY?
« on: April 25, 2024, 10:27:37 AM »
Quote from: team87 on December 27, 2018, 04:53:36 PM
Apart from being a digital asset and a short or long term investment. What are the benefits of crypto for you everyday, do you use to transact in general.
Thanks,

Cryptocurrency has been more of a benefit in areas where traditional fiat has failed, although I still use both due to the acceptance factor that is still very much in place in my country. Here are a few benefits which I will also explain: Decentralization, Uptrend (price increase), and the Ability to be swapped with ease.

Decentralization: the absence of middlemen is quite interesting as transactions aren't limited to any part of the world. Certain payment services are restricted to certain countries due to reasons that seem right in the eyes of the company in charge, restricting every transaction involving those countries from other countries that use it. Cryptocurrency has, of course, broken that barrier, as one doesn't have to go to the bank and write a letter explaining why he/she is making a transfer to a country overseas.

Uptrend: for me, is the best beneficial factor. When the price of any project is doing well, I can easily cash out a decent amount and use it for something important, knowing fully well that my investment is still intact for the moment. The ability to appreciate shows a great benefit.

Ability to be swapped: unlike going to the bank to swap for another currency, cryptocurrencies and their kinds can be swapped for one another at any point in time.

32
Bitcoin Forum / Re: All you need to know after Bitcoin halving
« on: April 22, 2024, 10:54:10 PM »
Quote from: SamReomo on April 22, 2024, 12:17:49 PM
I agree that this halving and the intense bull run that's on the way will bring huge profits to the holders who have been holding Bitcoin for a long time now. The ones who purchased Bitcoin when it was below $20k have already made more than 3x profits and the ones who may hold it for long term will make even more profits from it.

The ETF is literally going to act as the catalyst to propel the price of Bitcoin and possibly initiate the bull run on time. Interestingly, the price of Bitcoin has not dropped so much to indicate any sign of bear activity that was supposed to occur due to mass dumping before or after the halving. A new ATH is certain for this coming bull run, but we don't know its moment of initiation.

Quote from: R100K-Martin-Lunger on April 22, 2024, 08:59:21 PM
I agree that the bull run will be massive this time around because of the positive aspect of EFTs plus more scarcity and FOMO. More people are learning about and trusting bitcoin and looking at other crypto. The market will soar and it will be big. I will continue to invest in my crypto fund and wait for the pay day!

I think FOMO might begin soon because the price of Bitcoin is gradually increasing instead of dipping as many expected. Some of us here have little time left to add more projects to it before prices start skyrocketing.

33
Bitcoin Forum / Re: Bitcoin price speculation and analysis Thread
« on: April 22, 2024, 10:40:35 PM »
Quote from: Aanuoluwatofunmi on April 22, 2024, 10:22:01 PM
Since the halving has been achieved now, we should be more expectant in seeing the market going back to $70,000 and more anytime from now, though as we have always expected that the market becomes more volatile than before, there is nothing to also doubt about in seeing it go to a new all time high above the previous one, anything can happen at anytime from now, we should be more expectant.

The market condition has been quite impressive, making predictions difficult for analysts and enthusiasts. The long awaited halving has been completed, and it seems like nothing happened except for the unnecessary increase in transaction fees due to congestion. I literally thought there was going to be a dip after the halving when a massive amount was liquidated a few days ago, but this current uptrend turns out to be very strong.

$70,000 seems likely considering how impressive the market has been. When Bitcoin reaches that price, breaking the previous all-time high (ATH) of $73.7K for a new one might be possible. However, things might eventually go the opposite way where the price continues to maintain a steady rate for a while.

34
Cryptocurrency discussions / Re: Crypto markets can exist without government permission
« on: April 21, 2024, 09:51:06 PM »
Quote from: MrSpasybo on April 18, 2024, 11:32:47 PM
I don't know specifically what Binance has done in Nigeria, I just believe that Binance is not causing the devaluation of the local currency. Binance also always tries to comply with the regulations of countries, there is no reason for them to do anything too dangerous in Negeria - a country with constantly changing views on crypto. We don't know yet whether Binance has handed over Nigerian user data, I just hope that Binance can find the best way to overcome the accusations and demands from the Nigerian government and will never return to that dangerous market again.

Currently, the new administration has been eager to generate supposed tasks from every possible angle. Not just Binance, but some notable people in Nigerian society are under investigation. What I clearly understand here is that the Nigerian government wants only money from Binance and nothing else. I saw the recent lawsuit where the government fined Binance $10 billion. All this excessive force on Binance proves that they want to extract money from them.

https://www.premiumtimesng.com/business/business-news/673361-nigeria-govt-slams-10-billion-fine-on-binance.html

Quote from: doc on April 19, 2024, 10:37:33 PM
In fact, what the government is doing by making laws regarding the use of crypto is only to protect its citizens, so that crypto users will feel safe and comfortable. Even though the government cannot track what its citizens can do, because crypto technology is anonymous, the government cannot do anything and it is only a guess when there is misuse of crypto.

Well, this might be applicable to some countries, but it ain't really what the government of other countries truly fights for. I don't want to speak from a political view, but I think most governments just don't want their citizens to get involved in things that are outside their influence or control. Just imagine my country, for example, where most of the gas stations, banks, shopping malls, real estate, universities, etc., are owned by those in government or those related to the government. Cryptocurrency certainly offers something that differs, and it's not under their control. How will people keep leaving their money in the bank when crypto offers something else? How will people invest in real estate when crypto investment appreciates faster?(though not all project). This is indeed a big threat to those who feel threatened. Crypto is freedom, and not every government would want to give that freedom.

35
Cryptocurrency discussions / Re: Is technology really important for investment decisions?
« on: April 21, 2024, 09:31:20 PM »
Quote from: bitbit97 on April 18, 2024, 03:38:17 PM
That only proves my point. There is no super technology behind dogecoin, but influencers managed to raise investors interest to dogecoin. No technology needed (that I person I quoted claimed to be highly suggested) to get rich. On opposite we saw lots of not demanded technologies that failed to make investors rich. For example robotaxi in San Francisco. Millions were spend on a technology to have taxies without drivers, and it all lead to traffic collapse.

The crypto market is quite fair as it is now, given that only humans make decisive decisions that cause changes. I am not sure if the application of technology should be involved in everything, but I think it should have limits, especially in price-related aspects of cryptocurrency. The Doge project never really had a strong foundation at first, but with the help of influencers like Elon Musk, we could see how massive the turnout was among investors making purchases. I don't think there was anything special about Dogecoin until Musk started talking about it in public. Due to how important Musk is to society, it was easier for people to listen and make purchases. This same strategy can also work for any project that chooses to come out tomorrow, even if it's done by you, @bitbit97. Human/Influencers' opinions matter a lot and can cause faster changes to prices than supposed technology.

36
Basic Questions about Cryptos / Re: Basic Concepts Of Bitcoin Mixers
« on: April 21, 2024, 03:15:19 PM »
Quote from: Z-tight on April 20, 2024, 11:35:46 PM
This is a very good post, especially for people who do not know how mixers work. I know the government and centralized institutions are against privacy solutions, but BTC users must understand how important privacy is in the network and using mixers is a good way to enhance your privacy.

Some people even believe that you need to have something to hide before you use mixers, which is so wrong. Unijoin, which is a recommended mixer posted an article on this some weeks ago, and it is a good read for those who are interested:
https://unijoin.medium.com/why-do-we-need-to-protect-our-privacy-528b0a2dd22b

It's high time we start erasing all misleading information about mixers and other crypto related matters. Privacy matters alot especially for those that have choosing to make crypto part of their lives.

Quote from: Hatchy on April 21, 2024, 12:37:59 AM
Nice guide by the way op. At least for those who doesn't know what Tumblers are, can start from here.

They are generally known as tumblers. They're designed to enhance Bitcoin privacy. Whether you call them mixer or a tumbler, they're the same thing. Like you said, most mixing services today are centralized, meaning they're controlled by a single entity and third parties. Only a few, like CoinJoin, operate in a decentralized manner. When using a mixing service be aware that centralized mixers have full control over your coins during the process. So, it's important to research and choose reputable services to avoid the risk of losing coins. Many new mixers are entering the market, but most of them are scams or have ulterior motives. Remember, while increasing your privacy, you should also be smart enough to protect your coins too.

In as much as we want to protect our financial privacy, we must also be careful with what service we choose to use, because no scam service would return funds after they've scammed their victims. But interestingly, we still have reputable mixers everywhere.

Quote from: ABCbits on April 21, 2024, 01:00:18 PM
I don't know about other people, but personally i don't consider CoinJoin as part of mixer. In past, it's rare to see people use term mixer/mixing/mix when describing CoinJoin. Mixer break transaction history, while CoinJoin usually obfuscate it.

In as much as I don't want to mention a specific mixing service, the word Coinjoin used in this context isn't relating to a service either. Here is what I meant..
Quote
Note: Coinjoin as mentioned above, according to investopedia.com is an anonymization strategy that protects the privacy of Bitcoin users when they conduct transactions with each other, obscuring the sources and destinations of BTC used in transactions.

The link to reading more is towards the end of the write up. T for Thanks

37
Basic Questions about Cryptos / Basic Concepts Of Bitcoin Mixers
« on: April 20, 2024, 03:44:15 PM »
Introduction
As more mixing services become available in the Altcointalks community, it's important that everyone who comes across them genuinely has a basic knowledge of what they do. Understanding the entire concept of how mixing works might not be too necessary for everyone, especially when we are not the ones offering the service. However, with just a basic knowledge about them, everyone would understand their importance to cryptocurrency in general. This post provides basic knowledge only and does not go in details.

What's a Bitcoin mixer ?
Bitcoin mixers, also known as Bitcoin tumblers, are software or services that let users mix their coins with other users in order to further increase the privacy of their Bitcoin transactions. Bitcoin was the first cryptocurrency to use the tumbling service, though other cryptocurrency can use a tumbler.

Ideally, Bitcoin addresses are partially anonymous, which means they don't directly reveal the identity of their owner, but they can still be linked to real-world identities.



The Blockchain, which happens to be a public record of Bitcoin transactions, contains every stamped, dated, and transferred transaction that is stored. Any transaction on almost all blockchains is public, which means you can easily see and track where all the money is going.

The ability to view one's wallet address and see where money is coming from and going to is a big privacy risk for individuals. The purpose of a tumbler is to create privacy around the cryptocurrency that you own.

In recent times, some have argued that mixing and tumbling are two different terms. They propose that Bitcoin tumblers are services that mix coins from multiple users, while Bitcoin mixers are services that break up the transaction history of Bitcoin. Whichever concept is aligned, the main purpose is to provide anonymity to those who use it.

Types of Bitcoin Mixers

Centralized Mixers: are Third-party mixers that accept Bitcoin payments, mix them with other Bitcoins and send the equivalent amount to the required address for a fee.


Decentralized Mixers: are Mixer services that utilize open-source protocols, such as Coinjoin, combine Bitcoin into a single large transaction and redistribute it to the destination address. This process is similar to centralized methods, but it's automated and doesn't involve third parties.


Note that the most popular mixing services are currently centralized.

Why would you want to mix your coin?
Financial privacy is a key concern for both users and non-users of cryptocurrency. Traditional financial institutions such as banks do not provide this level of privacy, as they can disclose information to law enforcement agencies or governments at any time. When it comes to mixers, the guarantee of your privacy depends on which mixing service you use.

How do I identify a Good mixing service?
This happens to be a critical part that everyone must take seriously. The internet is currently flooded with lots of false mixers that use links similar to true mixers. These false mixers sometimes design their platforms to mimic the original in order to lure people.

When choosing a mixer, it is required that everyone conducts proper research on how long the particular mixer has been operating. Try to find out from others who have had personal experience (though don't believe everything), and start by mixing smaller amounts (which is where the risk comes in).

Note: Coinjoin as mentioned above, according to investopedia.com is an anonymization strategy that protects the privacy of Bitcoin users when they conduct transactions with each other, obscuring the sources and destinations of BTC used in transactions.

Information: This post provides basic knowledge about Mixer and nothing more. Choosing to use any of their services after reading this post is at your own discretion. .

Resource: https://youtu.be/vcBXu1I6cGg?si=NlPu46Lkv4lx6UpE

Resource: definition of Coinjoin https://www.investopedia.com/terms/c/coinjoin.asp#:~:text=Key%20Takeaways,the%20coins%20difficult%20to%20trace.

38
Bitcoin Forum / Re: SHOULD I CARE ABOUT BITCOIN HALVING
« on: April 18, 2024, 09:26:51 PM »
When it comes to Bitcoin halving, you should know that everyone needs to fight for themselves. This is basically an opportunity for whales to make massive dump, knowing fully well that most attentions is diverted to the halving event. So I would advise that you monitor your crypto project strongly and stay alert so as not to incur losses, especially if you are a short-term trader.

As for miners, their rewards would be halved as it has been designed in the protocol. Mining process would become more difficult and would require collective efforts to get the job done and earn a reward. Some solo miners might consider joining a mining pool due to expenses that might arise.

I think the effect of halving is quite contradictory, with everyone having their own way of explaining it. From history, we've always experienced an increase in the price of most coins in the market after some months of the halving event. Bitcoin's price hike during this period has been tied to demand factors, with most people believing that an increase in demand usually leads to an increase in price. Others also believe that demand literally has no effect on the bull market, but rather it occurs as a result of rumors and information that have been in place for long.

Whichever category you happen to fall into or believe, just note that there should be a bull market months after the halving, but this coming cycle might be an exception due to the approval of the spot Bitcoin ETFs. As of now, the market is not predictable, rendering history useless. But let's keep our ears to the ground and stay alert so as not to miss out.

39
Bitcoin Forum / Re: Focus on knowledge, build up belief, then investment plan, success will come.
« on: April 18, 2024, 08:58:34 PM »
Sometimes, when we listen too much to the opinions of others, we are left stranded in the middle of our decision making. Am I saying it's wrong to listen to advice? Not at all. When it comes to Bitcoin investment and any other form of investment, one major aim of staking is only for profitable reasons and not to watch others make exploits for themselves.

The idea of buying the dip and selling at a massive price increase is literally tied to decision making. Sadly, many investors with good knowledge prefer to follow trends rather than following their own curiosity and making personal decisions. They sit around and allow influencers to suggest to them when the next dip and all-time high (ATH) is happening. This attitude has literally caused many individuals to miss out on massive opportunities.

From the first cent that Bitcoin was worth to the current thousands of dollars, the Bitcoin cycle is enough evidence to show that Bitcoin is a digital asset worth investing in without being told. If the price of Bitcoin could grow for such a long time, then imagine what most investors must have been able to achieve in every bull and bear season. The evidence is more than enough; with knowledge, investment, and the ability to make decisions, one is set for greatness if one can take advantage of the market conditions.

40
Random Crypto Giveaway / Airdrop / Re: [FREE RAFFLE] - Custom UniJoin Card, (#13)!
« on: April 18, 2024, 07:17:37 PM »
Quote from: paid2 on April 18, 2024, 06:30:25 PM
Who wants the last slot ? :D

@paid2, I will take the last slot  ;D

41
Cryptocurrency discussions / Re: Crypto markets can exist without government permission
« on: April 17, 2024, 10:18:08 PM »
Quote from: doc on April 03, 2024, 02:59:58 PM
If you want to save assets for the long term, don't exchange them, it's very dangerous. It's best to keep it in a safe wallet, personal wallet. Electrum wallet is also good and safe. However, if we still want to trade, saving in a reputable exchange is no problem

I think many of us sometimes overlook the logical aspects of exchange usage. For those who trade often, it would make more sense to leave your trading funds on the exchange you use frequently to minimize transaction fees associated with moving funds between wallets. However, you should be aware that your funds are in the hands of another individual, so you should always be vigilant and keep checking. On the other hand, for those who are holding onto assets for the long term or for reasons unrelated to trading, it would make more sense to store them in an external wallet.

Quote from: MrSpasybo on April 06, 2024, 08:52:39 PM
Quote from: TopT3ns on April 02, 2024, 04:17:29 PM
Exactly, therefore, when you have made a lot of profit from cryptocurrency, it is better to keep all your assets in a digital wallet such as Electrum or others. Never store it in an exchange wallet because we don't know how long the exchange will be around.
In crypto-friendly countries, users can feel secure using CEXs, even storing a lot of money on CEXs. In countries with an unclear view of crypto or constantly changing policies towards crypto, users should prioritize self-custody of crypto in personal wallets to avoid problems. For example, in Nigeria, users are facing the risk that their personal data when using Binance will be made public under pressure from the government.

I don't think Nigerians currently have too much business with Binance since the peer-to-peer medium isn't available to them. Although there are a few services they can utilize, I came across news that doesn't make sense from any angle. Are all Nigerian Binance users under investigation or what? Like I said before, Binance would really love to see more involvement from Nigerian traders, which might possibly result in them releasing such sensitive data. Just saying...

42
Cryptocurrency discussions / Re: Stay away from crypto ponzis!
« on: April 17, 2024, 09:49:11 PM »
Quote from: Aanuoluwatofunmi on April 16, 2024, 06:01:01 PM

Most of the people being scammed allowed for such when they express their greediness towards an offer because of high pay involved, we cannot deceive ourself on what is not it and expect it to become it, anything that looks too real to be true should not take chance on us and we should as well avoid making haste decision without making research at first with gambling, this is how we should expect for such.

I have come to notice that Ponzi investment scams don't have specific targets. Different people are usually attracted to them due to the massive scam offers that come as profits. The major people who are easily attracted are newcomers who are new to the crypto space and would love to get rich overnight. Something funny about this is that newcomers tend to have a higher chance of coming across such scams than those who are already in the crypto game.

Quote from: jeraldskie11 on April 17, 2024, 07:39:28 PM
Scammers have been using this method of defrauding people for a long time because they continue to profit from it. I am too a victim of this type of fraud, however I have discovered that this too good to be true project is a scam. Just think what their investment strategy is and why they give out 10% every day. Probably if they offer you this type of stuff, it's a fraud. First of all, once you invest your money in an online platform, the danger is already present, so you need carefully choose which platform is worth investing on. If you've learned crypto well, you won't fall for this again.

I literally don't understand how people tend to believe stories that are too good to be true. Why on earth would a person offer a 10% investment reward daily? People have to learn that crypto Ponzi schemes are questionable, and proper research must be done whenever one comes across such schemes. Moreover, there are several coins to invest in rather than looking for a shortcut to success.

43
Nigerian Languages / Re: World bank says Nigeria’s 2024 inflation rate will drop to 24.8 per cent
« on: April 17, 2024, 09:21:09 PM »
I came across a figure that happens to be the new inflation rate, but I can't really remember the value now. Recently, I have seen tweets saying that the Naira has appreciated and the prices of goods are beginning to come down, especially the price of a bag of rice, which fell from 80K to 64K. Though news like this is quite impressive, I can't really feel the effects when I choose to make purchases. The issue with local marketers is really making things more difficult for everyone, making it seem as if the country is making progress.

Quote from: Sim_card on April 16, 2024, 04:15:23 PM
Yes Rufai claims that the FG has spent over 8 billion Naira on fuel subsidy, and that is why we are buying petrol at the price of 670, that if not petrol would have be as expensive as diesel. I am shocked to hear this, because I thought that subsidy on petrol have been removed by the new administration in May 29th.

You can read it here https://www.vanguardngr.com/2024/04/fg-still-subsidising-petrol-in-trillions-of-naira-el-rufai/

How can they spend 8 billion naira on fuel subsidy when it was removed the moment they came into power? The whole story doesn't even make any sense. Unfortunately, there is no one to hold them accountable for all this bad joke because those who are supposed to represent us (Labour Congress) have become their puppets. Just imagine if the supposed 8 billion naira wasn't spent; then, we would have bought it for 1200 and above.

44
Nigerian Languages / Re: [Crypto] Nigeria high court demand Binance to submit Nigeria users data.
« on: April 17, 2024, 08:55:08 PM »
Quote from: Igebotz on March 21, 2024, 10:16:06 AM
The federal high court sitting at Abuja has asked Binance to cooperate with the Nigeria Government and give data of all users to the Govemment.

What do you guys think? Will Binance defy to grant a local law request? 

https://cointelegraph.com/news/nigerian-court-binance-disclose-user-data

I'm not too familiar with how the law works, but I believe that giving out users' data to a third party is strictly against the terms that govern the internet in general. However, we know that some companies secretly sell users' data to research institutes and others. If a user chooses to use your service and undergo verification, it's the duty of those in charge to keep the identity and data of that user safe. The government of Nigeria has no right to obtain the data of every user unless every user who uses Binance in Nigeria is under investigation.

Unfortunately, I can't even tell if Binance would comply with their demand, knowing fully well that Binance is short of Nigerians and would love to have them back. Anything can literally happen as long as everyone is making a profit, which means Binance might also request the government to lift the ban in exchange for the data of users.

Just saying...

45
Competitions & Contests / Re: Mixero ADVANCED MODE Bitcoin Mixer Bitcoin Price Prediction - April 2024
« on: April 17, 2024, 08:43:59 PM »
Prediction 2: $59,273
BTC bech32 address:
bc1q2s6fk50kwqksdrhraujryka5ak9evr6sdafr0l

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